Asian shares extended their rally on Friday, bathing in the afterglow of an outsized interest rate cut in the United States, while the yen was jittery ahead of a monetary policy decision in Japan as traders look for clues about future tightening.

Most Asian markets rose Tuesday but Tokyo sank more than one percent as exporters were hit by a stronger yen with traders gearing up for a bumper US interest rate cut and a key Japanese central bank meeting.